Form 4: Ramaco Resources EVP Kreutzer Boosts Holdings Post-Vesting

Ramaco Resources' EVP of Western Operations, James Scott Kreutzer, increased his beneficial ownership of Class A and Class B common stock following the vesting of performance and restricted stock units.

Summary

• James Scott Kreutzer, EVP Western Operations, acquired a significant number of Class A and Class B common shares through the vesting of performance stock units (PSUs) and restricted stock units (RSUs) on January 30, 2026.
• Performance targets for PSUs granted on February 20, 2023, were certified at 200% by the Compensation Committee for the period January 1, 2023, to December 31, 2025, leading to the vesting of 23,970 Class A PSUs and 4,794 Class B PSUs.
• Various installments of restricted stock and restricted stock units, including grants from September 12, 2022, February 20, 2023, February 29, 2024, and February 24, 2025, also vested on January 30, 2026.
• Shares were surrendered to satisfy tax obligations upon vesting: 1,282 Class A shares at $19.97, 21,717 Class A shares at $19.97, 10,104 Class A shares at $19.97, 4,343 Class B shares at $12.43, 724 Class B shares at $12.43, 921 Class B shares at $12.43, and 256 Class B shares at $12.43.
• Kreutzer received a total of 547 shares of Class B common stock from four common stock dividends paid in Class B common stock, declared between December 2024 and November 2025.
• Following these transactions, Kreutzer beneficially owns 55,080 Class A common shares and 11,006 Class B common shares directly, in addition to 23,970 Class A Performance Stock Units and 4,794 Class B Performance Stock Units.

Sentiment

Score: 8

Explanation: StockSavvy.ai views this filing positively as it reflects the successful achievement of executive performance targets at 200%, leading to significant equity vesting and demonstrating strong company performance during the incentive period.

Positives

• The Compensation Committee certified the achievement of pre-established performance targets at 200% for performance stock units, indicating strong company performance over the period.
• Significant vesting of performance and restricted stock units demonstrates the company's commitment to long-term incentive plans for its executives.

Future Outlook

The filing indicates that one annual installment remains from the restricted stock grant on February 29, 2024, and two annual installments remain from the restricted stock units granted on February 24, 2025, suggesting future vesting events for the reporting person.

Industry Context

StockSavvy.ai notes that Form 4 filings are standard disclosures for insider transactions, reflecting changes in beneficial ownership by company executives. This particular filing details the vesting of long-term incentive awards, which is a common practice in executive compensation across various industries, particularly in resource sectors like coal mining, to align management interests with shareholder value over multi-year performance periods.

Comparison to Industry Standards

• The 200% achievement of performance targets for PSUs is a strong indicator of the company's operational and financial success during the performance period, potentially outperforming average industry benchmarks for executive incentive plan achievements.
• The use of both Class A and Class B common stock in compensation plans is specific to Ramaco Resources' capital structure, which may differ from companies with a single class of common stock, but the underlying principle of equity-based incentives is standard across publicly traded companies.

Stakeholder Impact

• Shareholders: The vesting of executive equity awards, particularly those tied to 200% performance achievement, could be viewed positively as it suggests strong company performance and alignment of executive incentives with shareholder value creation.
• Employees: While not directly impacting all employees, successful performance target achievement can foster a positive company culture and potentially lead to broader employee incentive programs.

Next Steps

• One annual installment of restricted stock from the February 29, 2024 grant remains to vest.
• Two annual installments of restricted stock units from the February 24, 2025 grant remain to vest.

Key Dates

Recommendation

The filing details routine executive compensation vesting and tax-related dispositions, which are generally expected events. The 200% achievement of performance targets is a positive indicator of past company performance, but this Form 4 primarily reflects an individual's ownership changes rather than new strategic or financial information that would warrant a 'buy' or 'sell' recommendation. It reinforces a 'hold' stance for investors who are already invested, acknowledging strong past performance without providing new catalysts for significant price movement.

Keywords

Ramaco Resources, METC, Form 4, Insider Trading, Stock Vesting, Performance Stock Units, Restricted Stock Units, Executive Compensation, Class A Common Stock, Class B Common Stock